That was my concern yesterday, the move was not attributable to any new/news development and therefore could not carry over today. At some point, you would expect management to say something that will be comforting to exasperated shareholders, something other than hinting that they might not have money to settle their debt in 2016. That, if you ask me, is taking shareholders for a ride.
Finally, one reaction to my post worthy of a reply. First, it's amazing how, if people disagree with you on these messages boards they automatically proclaim to know whether you are short or long simply because your views are at variance with theirs.
Anyway, you are doing the right thing by adding to your position as pps falls. I too have been doing so when I'm able to raise some funds. It lowers cost average Considerably. I hope that management's hint few months back that they might not come up with payment for their debt in 2016 does not come to fruition.
To what do we owe today's efforts by DNDN. Is it brought about by any meaningful fundamental development or is this yet another head fake. I have witnessed a lot of those.
And on a rather critical note, I read over the weekend that Medivation, MDVN, partnered with a big pharma, Astellas, two years ago when their now blockbuster drug Xtandi was lunched. Which begs the question, who was the big that Dendreon, partnered with before or during the lunch of Provenge? Did they go about it alone to keep all the proceeds? In as much as I have no intention of selling my shares, not at these levels, I'm also not in a hurry to celebrate these random ups and downs in the stock, especially when there is no news to support such moves.
Again, which big pharma partnered with DNDN?
to upgrade the stock as opposed to even few weeks ago when the full impact of the upgrade would have been felt.
That's the problem with the free-for-all nature of the message board--it doesn't discriminate against nonentities.
That's all you have to offer, sell? I don't know about you, but without divulging the exact price, I bought this stock 3 years ago and have since watched it head in the wrong direction, down. If you bought in say, $3 per share, and watched it loose 50% of its value, that may explain your ever unfounded optimism. So you see, it's a matter of perspective.
...that bankruptcy might be an option if the company fails in its efforts to come up with money to settle their debt come Q1 2016. With that ugly scenario in mind, what is there to give us consolation? Is there hope of any positive development coming from the European front? Is there any situation likely to become a catalyst for revenue growth here in the US to avert the impending cataclysmic event in 2016 when $600m debt becomes due?
I'm seriously worried.
Now what? I'm a believer in loyalty, and that we all have had time to digest recent protracted battle between Casablanca and the prior management, I would be remiss if I didn't ask myself, who is likely to care more for the welfare and longevity of CLF, the company's management or a hedge fund manager, time will tell. We must always be careful what we wish for.
This stock has been in a free fall and I haven't heard anyone say anything to explain what the next move is. People here were quick to castigate the previous management.
...those here who proudly voted in favor of the Casablanca takeover to tell us why.
There are people here who proudly boasted about casting their vote in favor of Casablanca, and the question now, as you have correctly posed it, what is their game plan? What are they doing, or will do differently from the former BOD/management? It is incredible how we often tag along like herds. How could this guys with their promise of "quick fix" care more for CLF than those with known vested interest in the company? Those of us who contributed to the takeover of this board of directors may have committed a serious error.
Your insights sound quite ominous, but you know what concerns me the most, you may in fact be right. What baffles me when the broader market finally heads south is how often the stocks that never participated in the bull market take the lead. That's the unfair part.
I hope we don't end up in a deeper mess than with the former BOD. The stock is clearly heading in a wrong direction, and I don't hear the current management intervening, something the prior management was roundly criticized.
...are we being impatient? We are again heading in the wrong direction and precipitously.
...to comment about it?
This is valuable piece of information because I've become increasingly worried since the disclosure recently by management of the possibility they might not be able to meet their debt obligation come 2016, that current dndn investors might be shortchanged if there is a restructuring that doesn't focus on investor interest.
So, since you seem to have a knowledge of the bankruptcy of former AMR, what if anything can current dndn investors do to forestall any adverse actions by management?
Have you ever stopped to wonder WHY anybody would think it's a good idea to share with the world how many stocks he owns, especially when no one asked for such personal detail. What is next, the balance in his checking account?
...why most people who identify with short selling display rather obnoxious personality. I mean, don't they all sound kinda lame? Ever wondered why these people seem to cherish, or celebrate what they perceive as other people's demise. Good thing we have the tools to put them on ignore where they belong.